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Wants Joint Owner Status on Business Account

The bank says they cannot put me on my husband's business checking account as a joint owner just as a signee. We just got married. Why is this? Why can I not be put on as a joint owner of the business?


If the business is a sole proprietorship, in most states it can only have one owner; that's just the way the law works. In a very few states, spouses can jointly own a sole proprietorship.

If you and your husband agree that you should be a co-owner of the business, you should consult an attorney to see what steps need to be taken, such as forming a partnership. Otherwise, you may have to settle for authorized signer status.

Published on BankingQuestions.com 1/30/09